Rajarajeshwari Nagar, also knownas RR Nagar, located in the South of Bangalore is being considered as the place to make maximum returns in the real estate sector today. There are many reasons behind this and some of them are given below:
Infrastructure: There is significant infrastructure development in the area. What is being seen as impacting the property values in the locality hugely is that there is planned metro and the four lane roads. Moreover, under the second phase of the Namma Metro Corridor, which is the the Mysore Road terminal to Kengeri, beingan extension of the East-West Line. It is proposed to have five stations. One amongst them will be RR Nagar. Besides this, there are four lane roads towards NH-4 andNH-7 which are under construction.
Connectivity: There is excellent connectivity in the area as the place is just around 4kms far away from Bangalore–Mysore Infrastructure Corridor, also known as NICE Road. The road has the connectivity to Mysoreand Bangalore. According to a top executive of a developer, area like JP Nagar and Electronic City are pretty close by but as compared to Electronic City, it is closer to the city.
IT Set Ups: There is also seen an increased demand for rental accommodation in the area owing to the rise in numerous IT companies around the place. According to the developer, just about 4 kms from RR Nagar is Global Village Tech Park, which is house to numerous software companies.Besides this, there are various top IT companies that are set-up in Mysore. With RR Nagar being the nearest route for professionals working in Mysore, the professionals are looking forward to stay at affordable rental valuesin Bangalore.
Return on investment: In the past six months, the area has witnessed a continuous rise in residential rental prices. According to data from a top real estate portal, in the period of Jul-Sep 2013 quarter,there was roughly a 20 per cent increase. It is believed that as much as Rs. 10,000-35,000 per month can be availed by an investor which depends on the total space of the apartment aswell as its BHK structure.
Amenities and Facilities: Another factor that has contributed to the growth of the area is the social infrastructure. There is constant demand from student population as there are numerous educational institutions in RR Nagar. Besides this, there are also many shopping complexes which help met the needs of the day of the people. Many prominent hospitals too are located in the area which makes it a viable place to stay in.
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